Complete Property Market Updates of Singapore

June 10, 2008

AFP swings back into the black in Q1 08

Filed under: Financing,General — Propertymarketupdates @ 2:20 am

Asia Food & Properties (AFP) on Monday reported a net profit of $45.44 million for the first quarter ended March 31, 2008, compared to a net loss of $2.8 million a year ago.

Revenue rose 9.5 per cent to $195 million, of which $147.5 million (75.6 per cent) was from the property business and the remaining $47.5 million (24.4 per cent) was from the food business.

AFP said the group’s higher sales was mainly attributable to the food and property business in China.

Going forward, AFP warned that its performance would continue to be affected by such factors as economic growth, interest rates movement, government policies on the property sector, rising material costs, money supply and foreign exchange movement. — BT Newsroom

Source : Business Times – 12 May 2008

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